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Indiana Code Title 28. Financial Institutions § 28-1-23.5-6

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 6. (a) An electronic activity is authorized for a financial institution as incidental to the financial institution's business if the activity is convenient or useful to an activity that is:

(1) specifically authorized for the type of financial institution under consideration;  or

(2) otherwise part of the business of the type of financial institution under consideration.

(b) In determining whether an electronic activity is authorized as incidental to a financial institution's business, the director may consider whether the activity:

(1) facilitates the production or delivery of the financial institution's products or services;

(2) enhances the financial institution's ability to sell or market its products or services;

(3) improves the effectiveness or efficiency of the financial institution's operations;  or

(4) enables the financial institution to:

(A) use capacity acquired for its operations as a financial institution;  or

(B) otherwise avoid economic loss or waste.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-1-23.5-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-1-23-5-6/

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